The 22-year-old Northern Irishman, who signed a new contract with the Dons earlier this week, has been allowed to leave on loan in order to get some first-team minutes under his belt.
Flanagan came through the youth system at Stadium:MK and has previously spent time on loan at Kettering Town, Gillingham and Barnet.
Stevenage are currently bottom of League One, two points from safety.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Port Vale | 14 | 9 | 3 | 2 | 23 | 15 | 8 | 30 |
| 2 | Walsall | 13 | 8 | 2 | 3 | 26 | 14 | 12 | 26 |
| 3 | Notts County | 14 | 7 | 5 | 2 | 22 | 12 | 10 | 26 |
| 4 | Doncaster RoversDoncaster | 14 | 8 | 2 | 4 | 20 | 16 | 4 | 26 |
| 5 | Crewe AlexandraCrewe | 13 | 7 | 3 | 3 | 16 | 12 | 4 | 24 |
| 6 | Chesterfield | 14 | 5 | 7 | 2 | 28 | 15 | 13 | 22 |
| 7 | Bradford CityBradford | 14 | 6 | 4 | 4 | 20 | 15 | 5 | 22 |
| 8 | MK Dons | 14 | 6 | 3 | 5 | 21 | 16 | 5 | 21 |
| 9 | BarrowBarrow | 14 | 6 | 3 | 5 | 15 | 11 | 4 | 21 |
| 10 | Grimsby Town | 14 | 7 | 0 | 7 | 18 | 25 | -7 | 21 |
| 11 | Gillingham | 14 | 6 | 2 | 6 | 15 | 12 | 3 | 20 |
| 12 | Salford City | 14 | 5 | 5 | 4 | 14 | 16 | -2 | 20 |
| 13 | AFC Wimbledon | 11 | 6 | 1 | 4 | 18 | 9 | 9 | 19 |
| 14 | Newport CountyNewport | 14 | 6 | 1 | 7 | 18 | 24 | -6 | 19 |
| 15 | Fleetwood TownFleetwood | 13 | 4 | 6 | 3 | 19 | 15 | 4 | 18 |
| 16 | Cheltenham TownCheltenham | 14 | 5 | 2 | 7 | 18 | 21 | -3 | 17 |
| 17 | Harrogate TownHarrogate | 14 | 4 | 3 | 7 | 11 | 19 | -8 | 15 |
| 18 | Bromley | 13 | 3 | 5 | 5 | 15 | 17 | -2 | 14 |
| 19 | Tranmere RoversTranmere | 13 | 3 | 5 | 5 | 8 | 16 | -8 | 14 |
| 20 | Accrington StanleyAccrington | 13 | 3 | 4 | 6 | 15 | 22 | -7 | 13 |
| 21 | Colchester UnitedColchester | 13 | 2 | 6 | 5 | 16 | 20 | -4 | 12 |
| 22 | Swindon TownSwindon | 14 | 2 | 6 | 6 | 15 | 20 | -5 | 12 |
| 23 | Carlisle UnitedCarlisle | 14 | 2 | 2 | 10 | 12 | 28 | -16 | 8 |
| 24 | Morecambe | 14 | 1 | 4 | 9 | 12 | 25 | -13 | 7 |
| > League Two Full Table | |||||||||
